ZSE market capitalisation grows to $4bln in April

ZSE market capitalisation grows to $4bln in April

HARARE, May 2 (The Source) – The Zimbabwe Stock Exchange mainstream index advanced 2,88  percent in April to close at 142,96 points as eight of the top 10 counters by market capitalisation all recorded gains.

The mining index  advanced 13,27 percent to close at 66,33 points on the back of the gains in RioZim following its acquisition of Falcon Gold’s Dalny Mine, in a deal which will double its asset value and increase gold output by 100 kilogrammes per month by end of the year.

Market capitalisation increased by 8,05 percent, from $3,87 billion in the previous month to $4,18 billion, mirroring the gains in the mainstream index. However total market turnover fell 58,4 percent to $11,2 million from $26,9 million recorded in the previous month.

Delta gained 0,29 percent to close at 86,25 cents while Econet added 12,5 percent to close at 18,04 cents.

Padenga and Simbisa gained 9,59 percent and 3,8 percent to close at 20 cents and 17,75 cents respectively.

Innscor , Old Mutual and National Foods advanced 4,33 percent, 2,41 percent and 1,76 percent to settle at 46,95 cents, 364,76 cents and 360 cents respectively.

BAT and Hippo also added 1,31 percent and 17,95 percent to trade at 1550.0 cents and 46 cents respectively.

Among the top gainers were Willdale, Masimba and Barclays after adding 40 percent, 26,32 percent and 20 percent to settle at 0,35 cents, 2,4 cents and 3,6 cents in that order.

Ariston and ZB Holdings advanced 20 percent and 18,64 percent respectively while PPC and Fidelity put on 3,15 percent and 10 percent respectively.

Meikles and FBC also added 9,58  percent and 7,48 percent respectively while Nampak and TSL gained 6,67 percent and 6,28 percent respectively.

CFI, Axia and Dawn put on 4,94 percent, 4,29 percent and 4 percent in that order.

One heavyweight, Seedco made a loss after easing 0,26 percent to trade at 94,75 cents.

Zimre Holdings was  the worst performer in the month after  shedding 15,15 percent to close at 1,4 cents.

Zimre Holdings on Friday reported that  its loss narrowed  by 90 percent to $2,2 million for the full-year to December, from $23,1 million recorded in the preceding year on increased business retention and cost containment measures.

StarAfrica and Lafarge also shed 10,71 percent and 6,77 percent to trade at 1 cent and 44,75 cents respectively.

Colcom ,NMBZ and CBZ lost 0,67 percent,0,6 percent and 0,3 percent in that order.

On the mining space, RioZim added 25  percent to settle at 50 cents while Bindura, Falgold and Hwange remained unchanged at 3 cents , 1 cent and 2,9 cents respectively.

Foreigners remained net sellers in the month, disposing of shares worth $8,1 million and buying shares worth $1,4 million.